Shelter Insurance® will receive an Impact Award from the Novarica Insurance Technology Research Council, a peer community of hundreds of insurer CIOs. More than fifty CIO council members reviewed dozens of case studies to select the winners for the 9th annual awards.
Shelter created a cloud-based application for automated risk scoring. Completed in 12 months, the project halved the number of new business and policy change transactions manually reviewed by underwriters without purchasing new technology or increasing infrastructure costs.
“Increasing efficiency and managing risk more effectively are two key ways for insurers to use technology to create business impact. In Shelter’s case, this not only streamlined processes, but also freed up underwriters for more complex tasks and improved agent experience, creating lift across the distribution chain,” says Matthew Josefowicz, President/CEO of Novarica and moderator of the Council.
“We are so pleased to receive this recognition,” says Shelter’s Vice President of Information Services, John Rooney. “The team who worked on this project made a contribution to Shelter which will benefit our organization for years to come. They took an innovative idea and made it a reality. We celebrated this achievement internally, but to receive such prestigious recognition from our peers in the industry is extraordinary.”
Shelter’s case study, along with case studies of seven other winners, and more than 20 additional cases considered for Impact Awards, was published this week in Novarica’s 9th Annual Impact Case Study Compendium, online at https://novarica.com/compendium2020/. Novarica has published more than 220 case studies through this program since 2012.
About the Novarica Impact Awards
The Novarica Research Council Impact Awards are the largest purely peer-juried awards in insurance technology. CIO council members vote annually to recognize the efforts of their peers to use technology to drive business value in digital, data/analytics, core systems, and IT operations. No vendors, consultants, journalists, or members of the Novarica team participate in the selection committee, making the Novarica Impact Awards distinctive in being a purely peer-juried award.
The Novarica Insurance Technology Research Council is a free, moderated, knowledge-sharing community of more than 300 insurer CIOs and senior executives. In addition to recognizing successful initiatives through the Impact Awards, members participate in anonymized studies and private, vendor-free events. More information at https://novarica.com/council/
The Council is managed by Novarica, a research and advisory firm that helps more than 100 insurers make better decisions about technology projects and strategy through published research, advisory services, strategic consulting, and special programs. https://novarica.com/